Title 46: Shipping
PART 390—CAPITAL CONSTRUCTION FUND
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Appendix III to Part 390—U.S. Department of Transportation, Maritime Administration—Sample Semiannual Report
[Illustrative sample of the report required by the Maritime Administration pursuant to 46 CFR part 390 prescribing the capital construction fund reporting requirements to be followed by those companies which are party to a capital construction fund agreement]
Exhibit A_XYZ Co., Summary of cash, securities, and stock on deposit and net accrued deposits to and accrued withdrawals from the capital construction fund as of june 30, 19__ Thousands Cash (exhibit A-1 and B)................................ $1,025Securities and stock_adjusted basis (exhibit A-2 and B). 2,560 ---------------Fund total for tax purposes on deposit (exhibit C)...... 3,585Net accrued deposits and withdrawals (exhibit A-3)...... 450 ---------------Fund total (agrees with balance sheet submitted at this 4,035 date) on deposit for book purposes_June 30, 19__.......Portion of fund total for tax purposes as of June 30, Thousands 19__, which represents a ``CCF: Security amount'' pursuant to an agreement covering the dual use of a capital construction fundBalance brought forward................................. $403Deposits................................................ 82 --------------- Total ``CCF: Security Amount''......................... 485
Exhibit A-1_XYZ Company summary of cash on deposit in capital construction fund as of june 30, 19__ Thousands First American Bank, San Francisco, Calif., checking $1,025 account No. 654-0876-211...............................Total cash in capital construction fund at June 30, 19__ 1,025
Exhibit A-2_XYZ Co., Summary of Securities and Stock (Adjusted Basis and Fair Market Value) in Capital Construction Fund as of June 30, 19__(in Thousands)------------------------------------------------------------------------ Adjusted Fair market basis value------------------------------------------------------------------------Treasury notes_due July 4, 19__, $760 $760 $800,000 face value, 1st American Bank, San Francisco, Calif., trust account No. 610-2135...........................Negotiable certificate of deposit_due 500 500 July 31, 19__, $500,000 at 8 percent, 1st American Bank, San Francisco, Calif., CD No. 186007..................U.S.A. Motors, Inc._class A common 625 725 stock, 5,000 shares, Southern California National Bank, trust account No. 358-21.............................Energy Co., Inc._1st preferred, 4,100 205 255 shares, Southern California National Bank, trust account No. 358-21.........Boon Corp._class A common stock, 10,000 470 520 shares, Southern California National Bank, San Francisco, Calif., trust account No. 358-21..................... ------------------------------- Total securities and stock in capital 2,560 2,760 construction fund at June 30, 19__.....------------------------------------------------------------------------
Exhibit A-3_XYZ Co., Summary of Net Accrued Deposits and Withdrawals in Capital Construction Fund as of June 19__ Thousands Accrued deposits: 19__ income (6 mos. ended June 30, 19__).............. $500 Depreciation.......................................... 200 --------------- Total................................................ 700Accrued withdrawals: Progress payment made from general 250 fund_hull 210.......................................... --------------- Net accrued deposits and withdrawals in capital 450 construction fund at June 30, 19__.....................
Exhibit B_XYZ Co., Transcript of Transactions in the Capital Construction Fund for the 6 Mos. Ended June 30, 19__---------------------------------------------------------------------------------------------------------------- Cash Securities and stock Description of ----------------------- (at adjusted basis) Date transaction ------------------------ Detail Debit Credit Debit Credit----------------------------------------------------------------------------------------------------------------Jan. 1, 19__ Balances brought $1,500,000 ......... $2,000,000 forward.Jan. 1, 19__ Bond debt payment_SS .......... $250,000 Smith..Jan. 3, 19__ Deposit 19__ 300,000 depreciation.Jan. 4, 19__ Purchased Treasury .......... 752,000 752,000 ......... $800,000 at 6-percent notes_90 days at 6- discount. percent discount..Feb. 29, 19__ Dividends earned....... 4,500 ......... ........... ......... $0.45 per share on 10,000 shares Boon Corp.Mar. 15, 19__ Progress payment No. 3 .......... 172,500 hull 210..Apr. 4, 19__ Sale of Treasury 752,000 ......... ........... 752,000 notes_cost. Income from sale....... 48,000Apr. 4, 19__ Purchased Treasury .......... 760,000 760,000 ......... $800,000 at 5-percent notes 90 days at 5- discount. percent discount.Apr. 15, 19__ Deposit from 19__ 310,000 earnings.May 15, 19__ Progress payment No. .......... 180,000 4_hull 210..June 15, 19__ Sale of stock_cost..... 200,000 ......... ........... 200,000 4,000 shares at $56.25 per share. Gain on sale of stock.. .......... ......... ........... ......... Energy Co., Inc. 25,000 ------------------------------------------------------------------------------------------------ Balances carried 1,025,000 ......... 2,560,000 forward.----------------------------------------------------------------------------------------------------------------
Exhibit C_XYZ Co., Summary of Total Transaction Affecting the Tax Account Balances in the Capital Construction Fund for the 6 Mos. Ended June 30, 19__---------------------------------------------------------------------------------------------------------------- Ordinary Capital income gain Capital Total----------------------------------------------------------------------------------------------------------------Opening balance, Jan. 1, 19__............................... $1,000,000 $1,000,000 $1,500,000 $3,500,000Deposits, income, transfers in, etc......................... 362,500 25,000 300,000 687,500 --------------------------------------------------- Total...................................................... 1,362,500 1,025,000 1,800,000 4,187,500Withdrawals, losses, transfers out, etc..................... ........... ........... 602,500 ---------------------------------------------------Balance at June 30, 19__.................................... 1,362,500 1,025,000 1,197,500 3,585,000----------------------------------------------------------------------------------------------------------------
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Exhibit D—XYZ Company
summary by vessel of qualified withdrawals from the fund for the six months ending june 30, 19__
A. Acquisition or Construction of Vessels
(1) 80,000 dwt tanker: No qualified withdrawals have been made to date; construction is presently scheduled to commence in mid-1977.
(2) 130-foot ocean tug hull No. 210:
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Balance brought $700,000 forwardQualified 352,500 withdrawals during period ----------------------------------------------- Total 1,052,500 qualified withdrawal s to date.
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130-foot ocean tug hull No. 211: No withdrawals have been made to date; construction is presently scheduled to commence in November 1975
B. Acquisition or Construction of Barges, Containers and Trailers
250-foot tank barge: No qualified withdrawals have been made to date; construction presently scheduled to commence in November 1975.
C. Reconstruction of Vessels
None.
D. Reconstruction of Barges, Containers, and Trailers
None.
E. Payment of Principal on Existing Indebtedness
SS Smith—Official No. 236425:
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Balance brought $500,000 forward Qualified 250,000 withdrawals during period...... ----------------------------------------------- Total 750,000 qualified withdrawal s to date.
